The most expensive U.S. home sale this year was an 8,000-square-foot mansion in Southern California, according to Redfin data provided to Forbes. Here’s the Top 10.
This story was originally published on forbes.com and all figures are in USD.
Carpenteria off Route 101 Pacific Coast Highway. (Photo by: Visions of America/Joseph Sohm/Universal Images Group via Getty Images)
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Key Facts
- A five-bedroom, ten bathroom cliffside mansion sold for $96 million this year, providing the buyer with a Tuscan style home featuring sweeping views of the Pacific and three acres of property nestled just east of Santa Barbara.
- The second-most expensive home sold in the U.S. this year was purchased for $77 million, is located in the ski resort town of Aspen and boasts eight bedrooms and nine and a half bathrooms spread across 12,655 square feet of living space—all of which is about a 15-minute drive from downtown Aspen.
- The Brooklyn neighborhood of Flatbush is home to the third-most expensive residential property sold this year—the 1,250 square foot home was built in 1940, sold for a little over $75 million and features a relatively spacious living room and gallery, as well as enough square footage to convert the apartment into a three-bedroom space.
- A buyer purchased the fourth-most expensive homeon Redfin’s list for $72.2 million in Miami, Florida, which provided them with 12,552 square feet of living space, nine bedrooms, 11 bathrooms and a waterfront view in Miami Beach.
- The fifth-most expensive home sold in the U.S. this year was purchased for $66.5 million and features 6,180 square feet of space, five bedrooms and six-and-a-half bathrooms located just a few blocks away from downtown Aspen.
Where Are Luxury Home Sales Prices Increasing?
The median sale price of luxury homes increased most in Providence, Rhode Island, (16.5% increase to $1,395,000), San Jose, California, (16.4% increase to $4,830,000) and Nassau County, New York, (14.3% increase to $2,572,500) as of July, according to Redfin. Meanwhile, median sale prices managed to drop in New York (-3.2% to $3,200,000) and Austin, Texas (-1.5% to $1,650,000).
Big Number
$70 million. That’s the average price of the top 10 most expensive homes sold this year, based on Redfin data.
Top 10 Most Expensive Homes Sold This Year
1. Carpinteria, California: $96 million for a 8,000-square-foot, five-bedroom
2. Aspen, Colorado: $77 million for a 12,655-square-foot, eight-bedroom
3. Brooklyn, New York: $75 million for a 1,250-square-foot, two-bedroom
4. Miami, Florida: $72.2 million for a 12,552-square-foot, nine-bedroom
5. Aspen, Colorado: $66.5 million for a 6,180-square-foot, five-bedroom
6. Carpinteria, California: $65 million for a 10,902-square-foot, five-bedroom
7. Hollywood Hills, California: $62.8 million for an eight-bedroom, 18-bathroom
8. Miami, Florida: $62.5 million for a 12,807-square-foot, seven-bedroom
9. Reno, Nevada: $62 million for a 14,197-square-foot, seven-bedroom
10. Malibu, California: $61 million for a 10,527-square-foot, five-bedroom
Surprising Fact
Luxury home values exceeded appreciation of typical homes for at least five consecutive months this year, according to Zillow, with standard luxury homes being worth an average of about $1.6 million across the U.S. as of this summer. Luxury home values in the U.S. jumped 3.9% from 2023 to 2024, marking a faster appreciation than the 3.2% annual growth experienced by typical U.S. homes.
Tangent
A massive home sale not included in Redfin’s list was made in Malibu, California, this year for an eye-watering $210 million, according to real estate records reviewed by the Los Angeles Times, which noted the home never officially hit the market. The mansion was sold by Oakley founder James Jannard, who has an estimated net worth of $1.3 billion.
The more than 15,000-square-foot beachfront property features eight bedrooms, 14 bathrooms and marks the most expensive home sale in the history of California. It also includes a pool overlooking the ocean, a gym and two guesthouses. Jannard paid $75 million for the property in 2012, buying it from Oaktree Capital Group co-founder and billionaire Howard Marks.
Key Background
The sale prices for the top 10 luxury homes on Redfin’s list range from $62 million to $96 million, materializing as luxury home prices spiked 9% to an all-time high this summer. Sales of high-end homes grew 0.2% while sales for typical, non-luxury homes slid 3.4% to their lowest level in a decade, according to a Redfin report.
Redfin senior economist Sheharyar Bokhari said in the report the luxury market was able to spare itself from the difficulties of the non-luxury market thanks to an “abundance of all-cash buyers,” with 43.7% of luxury homes sold being purchased with all cash. Bokhari noted it is unlikely luxury home prices will continue to surge given an increase in listings.
This story was originally published on forbes.com and all figures are in USD.
